VANCOUVER, Oct. 18th, 2018 /CNW/ - Transatlantic Mining
Corp. (the "Company") (TCO:TSX.V) is pleased to announce that
the Company has received a permit to advance further activities on
the Kearsarge Gold Project on which it has an exclusive option to
purchase. During the current collation of geological information,
the Company plans to validate further with new drilling and sample
information for economic considerations. The Kearsarge and Big Vein
are in close proximity to surface with demonstrated "historic
drilling" indicating high grade mineralization.
This new permit with the planned drilling campaign will provide
the new data required to commence a bulk sample and activity
towards a new mineral resource estimate and as a minimum
Preliminary Economic Assessment (PEA). The new collected samples
will also be used for current metallurgical validation of the
historical recovery studies already undertaken.
Given that it is only a short mining distance to the 45 metre
wide shear (containing Kearsarge and Big Vein), and the historical
metallurgical recovery studies, the planned drilling will provide
additional data for a bulk mining sample of 10,000 tons in a staged
approach. There is more data being compiled outside the "Initial
Area of Focus "that will be develop further exploration
opportunity in the region.
Highlights
•
|
New permit to
allow drill testing and bulk sampling of the "Historical Estimate
".
|
|
|
•
|
Big Vein
Highlighted drillhole grades (**) :
|
|
|
Hole # 70
-1-94 5.9 metres (17.6 feet ) at 31.15 g/t Au
(1.0 Oz/t Au)- True width 5.9 m
|
|
|
|
70 -3-94
7.5 metres (22.6 feet ) at 48.23 g/t Au (1.55 Oz/t Au)- True
width 6.0 m
|
|
|
|
* KS-01
5.0 metres (15.0 feet ) at 60.27 g/t Au (1.94 Oz/t Au)- True
width 4.3 m
|
|
|
•
|
Kearsarge Vein
highlighted drillhole grades(**) :
|
|
|
Hole #
UGKS-9-94 3.3 metres (9.8 feet ) at 35.26 g/t Au
(1.13 Oz/t Au) -True width 1.6 m
|
|
|
|
96-2 1.3
metres (4.0 feet ) at 30.47 g/t Au (0.98 Oz/t Au)- True
width 1.3 m
|
|
|
|
* KS-02 3.3
metres (10.0 feet )at 10.23 g/t Au (0.33 Oz/t Au)- True
width 2.7 m
|
|
|
•
|
Drilling Planned
to validate veins and recovery, test along strike and down dip in
the multi vein system
|
The following figure indicates the extent of the land package
with the "Initial Area of Focus "used in the historical resource
estimates. The "area of focus" is one kilometre long (3000 feet)
within a highly prospective lineament of 3 kilometres (9000 feet)
as shown in Figure 1 based on the historical estimate in the area
of focus:
Both The Kearsarge and Big Vein are within a larger shear
system. This shear system includes additional lower grade
mineralisation in the area between the Kearsarge and the Big Vein
up to 45 metres in width combined. The dip of the veins are 70
degrees, and were mined largely during the period between
1862 and 1903, but more recently some minor horizontal development
took place between 1998 to 2001.
The long section in Figure 2 shows pierce points on The
Kearsarge Vein and Big Veins. Planned drilling has been staged to
develop the mineral resource estimate and studies going into the
next quarter.
CEO Bernie Sostak
commented,
"The Company looks forward to drill testing, sampling and
developing additional technical studies over the next quarter at
the Kearsarge Gold Project. With the permit approval now received
subject to a bond, we have the ability to act on the geological
features and opportunity we see for additional mineralisation that
is open at depth, along strike and in parallel veins. This will
follow on to estimating a new mineral resource with future
exploration drilling campaigns for growth."
Aslam Awan PhD, CP geoscientist is the Qualified Person pursuant
to National Instrument 43-101 responsible for having reviewed and
approved, the technical information contained in this news release.
Mr Awan is the Principal for AAA Geo Consultants:
The drilling data was validated into a database to match
drill hole identifications with the matching assays. QA/QC was
undertaken by various Independent Commercial Labs on the original
assays to the pulps for the various drill techniques of
Reverse circulation and diamond drilling samples. The nominated
assay checks on historical pulps by American Analytical
Laboratories using a 15 gram fire assay charge in Osburn Idaho USA.
Communications have also been undertaken with previous operators on
the properties indicating correlation with the existing data
compiled and the core and pulp stored to date.
About Transatlantic Mining Corp.
Transatlantic Mining (TSX-V: TCO) is an emerging
precious and base metal explorer. The Company has a focus on
converting projects into mines within stable mining jurisdictions.
In August 2017, the Company entered a
purchase agreement towards 100% of the US Grant Gold-Silver Mine &
Mill complex in Montana
(USA). The Company has also entered a lease (option to
purchase) agreement on 100% of the Kearsarge Gold project in
Montana, located 8 km from the US
Grant Mill.
The Company is also engaged in controlling and owning mineral
properties interests, such as the 80% Joint Venture position on
the Monitor Copper-Gold project in Idaho (USA).
A proven management team, led by Chief Executive Officer
Bernie Sostak, seeks to enhance shareholder value
through evaluation, exploration, development, enhancement and
expansion of its existing assets, together with reviewing
acquisition opportunities.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release
** Table 1 drillholes. For full set of historical
drillhole assays on the Kearsarge and Big Vein see News Release
March 2018
SOURCE Transatlantic Mining Corp.